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PLI Publishes Mortgage Finance Regulation Answer Book

Practising Law Institute, a nonprofit legal education organization, has published a question-and-answer guide about the legal and regulatory federal guidelines pertaining to mortgage finance business.

The Mortgage Finance Regulation Answer Book 2011-12 contains all the regulations applicable for the different steps of the mortgage application and issuance process, including those issued under the Real Estate Settlement Procedures Act, Home Mortgage Disclosure Act, Truth in Lending Act, Fair Credit Report Act and other statutes, too.

Topics featured in the book include the impact of a bankruptcy filing, state law preemptions and consumer privacy statutes. There is also coverage of the Dodd-Frank Act, which was signed into law in July 2010.

Richard Andreano Jr., the book’s editor-in-chief, has filled the guide with compliance suggestions that can help avoid or minimize client problems.

“The answer book will quickly become the ‘go-to’ guide when it comes to understanding the current federal requirements and how they are interrelated,” the institute said.

PLI said the book, which costs $235 and is available in print and kindle editions, can be helpful for many users, such as lawyers who do not specialize in mortgage finance regulatory matters, regulators who reside outside of this country and students of both law and business.

“The Mortgage Finance Regulation Answer Book provides practical answers to important questions,” said Joe Murin, former president of Ginnie Mae, and Brian Montgomery, former Federal Housing Administration commissioner, in the book’s foreword. “The information is readily accessible and understandable, both for legal and compliance personnel as well as management and other persons with interests in the mortgage industry.”